Artificial Intelligence Market Share, Size, - By (Hardware Processor, Memory, Network), By Software (Application Program Interface, Machine Learning Framework), By Services (Deployment and Integration, Support and Maintenance), By Technology (Machine Learning, Deep Learning, Supervised Learning, Unsupervised Learning, Reinforcement Learning, Natural Language Processing, Context-Aware Computing, and Computer Vision), By Business Function (Marketing and Sales, Security, Finance, Law, and Human Resource), By Deployment Mode (Cloud, and On-premises) - Global Opportunity Analysis and Industry Forecast, 2021 – 2030

Artificial Intelligence Market held USD 61 billion in 2020 and is to grow with a CAGR of 38% from 2020-2030. Artificial intelligence is usually defined as "the set of theories and techniques implemented in order to produce machines capable of simulating intelligence". Either computers or programs capable of performance usually associated with human intelligence, and amplified by technology: such as, ability to reason, ability to process large amounts of data, ability to discern patterns and patterns undetectable by a human, ability to understand and analyze these models, ability to interact with humans, Faculty of learning gradually and continuously improve its performance.

Machine learning is a form of artificial intelligence (AI) that allows a system to learn from data, not through programming explicit. As the algorithms ingest the training data, it becomes possible to create more accurate models based on that data. A machine learning model is the output generated when existing dataset train machine learning algorithm with expected data. After training, when input data is provided to a model, it outputs result. Artificial intelligence is becoming the norm in corporate sectors due to the increasing adoption.

AI has now become more predictable for companies for delivering better insight results and to scale up the production and efficiency of the operations. Companies are using AI for efficiently analyzing the complex data arrays for achieving quick product innovation, higher production performance, and scale-up for self-adjusting production systems across the globe which created massive demand for the growth of the artificial intelligence market.

Market Dynamics and Factors:

The artificial intelligence market is being driven by the increasing amount of data created by internet compatible devices & availability of huge cloud storage. This can be used as source for data and new information can be analyzed that can be of advantage to organizations and industries. Innovations in IOT devices, data science, deep learning, cryptography as well as the rise in digital financial products &services, healthcare, education, entertainment & various such digital industries led the foundations for the huge artificial intelligence market.

Market Segmentation:

Artificial Intelligence market can be segmented into by (Hardware Processor, Memory, Network), by Software Application Program Interface (API, Machine Learning Framework); Services  (Deployment and Integration, Support and Maintenance);by Technology (Machine Learning, Deep Learning, Supervised Learning, Unsupervised Learning , Reinforcement Learning, Natural Language Processing, Context-Aware Computing, Computer Vision); by Business Function: (Marketing and Sales, Security, Finance, Law, Human Resource); by Deployment Mode (Cloud, On-premises).

Geographic Analysis:

The artificial intelligence market in Asia pacific is predicted to rise at the highest during the forecast period. This growth can be attributed to the adoption of AI services in end-user industries, such as service, software, manufacturing, healthcare, and automotive in countries such as Japan, China, Australia, and South Korea.

Competitive Scenario:

The key players in the global artificial intelligence market are Microsoft Corporation (USA), Alphabet Inc. (USA), Tencent Holdings Ltd(China),  IBM Corporation (USA), Baidu, Inc. (China), Facebook, Inc. (USA), SAP SE (Germany), Salesforce.com, Inc. (USA), NVIDIA Corporation (USA), Intel Corporation (USA), Samsung Electronics Co., Ltd. (South KoreaCisco (USA), Huawei (China), Alibaba Cloud (China),  Amazon Web Services, Inc. (USA), IBM is the undisputable market leader in this market with its famous Watson AI program.

Artificial Intelligence Market Report Scope